Market Newsdesk

HANGZHOU, China, July 26, 2021 /PRNewswire/ — Youdao, Inc. (“Youdao” or the “Company”) (NYSE: DAO), a leading intelligent learning company in China, noted that the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a set of guidelines on July 24, 2021, aiming to ease the burden of excessive homework and after-school tutoring for students receiving compulsory education (the “Guidelines”). The Guidelines, among other things, require that all institutions offering online after-school tutoring on academic subjects in compulsory education be registered as non-profit organizations, obtain approval from the relevant regulatory authorities, and comply with various operational requirements with respect to class hours, faculty qualifications, tuition standards, advertising and others. In addition, the Guidelines prohibit all such tutoring businesses from raising funds through stock exchange listings or other capital-related activities. Foreign investments in school curriculum-based tutoring institutions through variable interest entity (VIE) arrangements, mergers and acquisitions or otherwise are also prohibited. Listed companies are banned from raising capital through equity offerings to invest in businesses offering tutoring on academic subjects in compulsory education. The Guidelines require that all businesses that have already violated these rules take corrective measures as appropriate.  

Although the interpretation and implementation of the Guidelines remain uncertain, we expect the Guidelines to have material impacts on our K-12 course business, financial condition and corporate structure. As we are currently exploring measures to comply with the requirements in the Guidelines for our K-12 course business, we will continue to seek guidance from regulatory authorities to improve our operations in strict compliance with all laws and regulations, fulfil our social responsibilities, provide our users with high-quality, innovative products and services, and promote the long-term development of China’s education industry.

About Youdao, Inc.

Youdao, Inc. (NYSE: DAO) is a leading intelligent learning company in China dedicated to developing and using technologies to provide learning content, applications and solutions to users of all ages. Building on the popularity of its online knowledge tools such as Youdao Dictionary and Youdao Translation, Youdao now offers online courses covering a wide spectrum of age groups, subject matters, learning goals and areas of interest. In addition, Youdao has developed a variety of interactive learning apps and smart learning devices. Youdao was founded in 2006 as part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), a leading internet technology company in China. For more information, please visit: http://ir.youdao.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding such risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact: 

In China:

Jeffrey Wang

Youdao, Inc.
Tel: +86-10-8255-8163 ext. 89980
E-mail: [email protected]

The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: [email protected]

In the United States:

The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

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SOURCE Youdao, Inc.

CHARLOTTE, N.C., July 26, 2021 /PRNewswire/ — SPX FLOW, Inc. (NYSE: FLOW), a leading provider of process solutions, today announced that its Board of Directors has authorized a review of strategic alternatives, including a possible sale or merger of the Company and the continued execution of the Company’s standalone strategy. Previously, the Company announced that its Board of Directors had received and rejected an unsolicited, conditional, non-binding proposal from Ingersoll Rand Inc. (NYSE: IR) to acquire all outstanding shares of SPX FLOW common stock for $85.00 per share. This followed a similar unsolicited proposal from Ingersoll Rand for $81.50 per share.

After careful review with its legal and financial advisors, and with the recommendation of a committee of independent directors formed to evaluate the potential transaction, the Board concluded that the proposals did not adequately value the Company in light of the Board’s confidence in the potential for increased profit margins and growth associated with the Company’s successful execution of its strategic plan.

As a result of additional inquiries received from interested parties, the Board believes it is appropriate to initiate its review of a broad range of strategic alternatives with the goal of delivering the most value to our shareholders. With the assistance of outside advisors, the Company expects to engage with multiple parties and, subject to customary confidentiality and other protections, share additional information relating to the Company and its growth plans.

No assurances can be given regarding the outcome or timing of the review process. SPX FLOW does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or appropriate.

Morgan Stanley & Co. LLC is serving as SPX FLOW’s financial advisor and Winston & Strawn LLP is acting as its legal advisor.

About SPX FLOW, Inc.

Based in Charlotte, N.C., SPX FLOW, Inc. (NYSE: FLOW) improves the world through innovative and sustainable solutions. The company’s product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer and other activities that are integral to processes performed across a wide variety of markets for nutrition, health and precision solutions. SPX FLOW had approximately $1.4 billion in 2020 annual revenues and has operations in more than 30 countries and sales in more than 140 countries. To learn more about SPX FLOW, please visit www.spxflow.com.

Certain statements contained in this announcement that are not historical facts, including any statements as to future market conditions, results of operations and financial projections, are forward-looking statements and are thus prospective. These forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future expressed or implied results.

Although SPX FLOW believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Estimates of future operating results are based on the company’s continuing operations, which are subject to change.

Particular risks facing SPX FLOW include risks relating to economic, business and other risks stemming from changes in the economy, the impact of the COVID-19 pandemic, our international operations, legal and regulatory risks, cost of raw materials, and pricing pressures.  More information regarding such risks can be found in SPX FLOW’s SEC filings.

Statements in this presentation are only as of the time made, and SPX FLOW does not intend to update any statements made in this presentation except as required by regulatory authorities.

Investor Contact:

Scott Gaffner

VP, Investor Relations and Strategic Insights
704-752-4485
[email protected]

Media Contact:

Melissa Buscher

Chief Communications and Marketing Officer
704-449-9187
[email protected]  

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SOURCE SPX FLOW, Inc.

SAN FRANCISCO, July 26, 2021 /PRNewswire/ — Volta Industries, Inc. (“Volta Charging”), an industry leader in commerce-centric electric vehicle (EV) charging networks, which has entered into a definitive agreement for a business combination with Tortoise Acquisition Corp. II (NYSE: SNPR), announced today that it has further extended its market penetration with the installation of new charging stations at Safeway in Renton, Washington. The exact address of these charging stations is 2725 NE Sunset Boulevard, Renton, Washington 98056.

Founded on the premise that the electrification of mobility is likely to be one of the largest infrastructural shifts of this generation, Volta Charging builds and operates a nationwide EV charging network that is among the best utilization per station for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta Charging seeks to transform the fueling industry by building open-network charging stations in locations where drivers already spend their time and money, including grocery stores, pharmacies and other retail locations.

The charging stations at Safeway furthers Volta Charging’s mission to build convenient, simple and delightful charging infrastructure that is seamlessly incorporated into a driver’s everyday experience. There are now 24 Safeway locations in Washington with Volta Charging stations.   

About Volta Charging

Volta Charging is an industry leader in commerce-centric EV charging networks. Volta Charging’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta Charging’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future.  As part of Volta Charging’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.

In February 2021, Volta Charging and Tortoise Acquisition Corp. II (NYSE: SNPR), a publicly traded special purpose acquisition company with a strategic focus on energy sustainability and decarbonizing transportation, announced they entered into a business combination agreement. Upon the closing of the transaction, which remains subject to customary closing conditions, the combined entity will be named Volta Inc. and remain on the New York Stock Exchange under the new ticker symbol “VLTA”.

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SOURCE Volta

HOUSTON, July 26, 2021 /PRNewswire/ — KBR (NYSE: KBR) announced today it has been awarded a contract by Neo Lithium Corp. in Argentina for its Tres Quebradas Lithium Project (“3Q Project”). Under the terms of the contract, KBR will implement its evaporation and crystallization technology solutions to ensure the project achieves maximum lithium yields for Neo Lithium’s battery-grade lithium carbonate production.

“We are proud to be selected by Neo Lithium for this breakthrough project focused on producing high- quality battery-grade lithium carbonate,” said Doug Kelly, KBR President, Technology. “This award reinforces our commitment to help our clients achieve their growth objectives in the most sustainable manner.”

KBR’s process knowledge for recovery and purification of inorganic materials is based on over 40 years of experience in designing evaporation and crystallization technologies that comply with today’s demanding environmental regulations.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long- term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com  

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic; the company’s ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company’s ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company’s ability to manage its liquidity; the company’s ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company’s indemnities from its former parent; changes in capital spending by the company’s customers, including as a result of the COVID-19 pandemic; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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SOURCE KBR, Inc.

NEW YORK, July 26, 2021 /PRNewswire/ –BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of cellular therapies for neurodegenerative diseases, announced today that the Company will hold a conference call to update shareholders on financial results for the second quarter ended June 30, 2021, and provide a corporate update, at 8:00 a.m. Eastern Time on August 05, 2021.

BrainStorm’s Chief Executive Officer, Chaim Lebovits, will present a corporate update after which participant questions will be answered. Joining Mr. Lebovits to answer investment community questions will be Ralph Kern, MD, MHSc, President and Chief Medical Officer, Stacy Lindborg, PhD, Executive Vice President and Global Head of Clinical Research, David Setboun, PharmD, MBA, Executive Vice President and Chief Operating Officer, and Preetam Shah, PhD, MBA, Executive Vice President and Chief Financial Officer.

Participants are encouraged to submit their questions prior to the call by sending them to: [email protected]. Questions should be submitted by 5:00 p.m. Eastern Time on Wednesday, August 4, 2021.

The investment community may participate in the conference call by dialing the following numbers:

Participant Numbers:

Toll Free: 888-506-0062            
International: 973-528-0011 
Entry Code: 298566

Webcast URL: https://www.webcaster4.com/Webcast/Page/2354/41929  

Those interested in listening to the conference call live via the internet may do so by using the webcast link above or by visiting the “Investors & Media” page of BrainStorm’s website at https://ir.brainstorm-cell.com/overview and clicking on the conference call link.

Those that wish to listen to the replay of the conference call can do so by dialing the numbers below. The replay will be available for 14 days.

Replay Numbers:

Toll Free: 877-481-4010              
International: 919-882-2331 
Replay Passcode: 41929 

About NurOwn® 

The NurOwn® technology platform (autologous MSC-NTF cells) represents a promising investigational therapeutic approach to targeting disease pathways important in neurodegenerative disorders. MSC-NTF cells are produced from autologous, bone marrow-derived mesenchymal stem cells (MSCs) that have been expanded and differentiated ex vivo. MSCs are converted into MSC-NTF cells by growing them under patented conditions that induce the cells to secrete high levels of neurotrophic factors (NTFs). Autologous MSC-NTF cells are designed to effectively deliver multiple NTFs and immunomodulatory cytokines directly to the site of damage to elicit a desired biological effect and ultimately slow or stabilize disease progression.

About BrainStorm Cell Therapeutics Inc.

BrainStorm Cell Therapeutics Inc. is a leading developer of innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases. The Company holds the rights to clinical development and commercialization of the NurOwn® technology platform used to produce autologous MSC-NTF cells through an exclusive, worldwide licensing agreement. Autologous MSC-NTF cells have received Orphan Drug designation status from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for the treatment of amyotrophic lateral sclerosis (ALS). BrainStorm has completed a Phase 3 pivotal trial in ALS (NCT03280056); this trial investigated the safety and efficacy of repeat-administration of autologous MSC-NTF cells and was supported by a grant from the California Institute for Regenerative Medicine (CIRM CLIN2-0989). BrainStorm completed under an investigational new drug application a Phase 2 open-label multicenter trial (NCT03799718) of autologous MSC-NTF cells in progressive multiple sclerosis (MS).

For more information, visit the company’s website at www.brainstorm-cell.com.

Contacts
Investor Relations:
John Mullaly
LifeSci Advisors, LLC
Phone: +1 617-430-7485
[email protected] 

Media:

Paul Tyahla

SmithSolve
Phone: + 1.973.713.3768
[email protected]

Logo – https://mma.prnewswire.com/media/1166536/BrainStorm_Logo.jpg

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SOURCE Brainstorm Cell Therapeutics Inc

HONG KONG, July 26, 2021 /PRNewswire/ — UCLOUDLINK GROUP INC. (NASDAQ: UCL, “uCloudlink”), the world’s first and leading mobile data traffic sharing marketplace, is further strengthening its footprint in Southeast Asia with a new local partnership with FuXing Kitchen Equipment Inc.(“FuXing”), a leading kitchenware manufacturer in the Philippines.

Under the agreement, uCloudlink will provide its mobile broadband (MBB) products and services to FuXing. The partnership marks the first time that uCloudlink’s cooperation with the household appliances industry and solidifies its position in mobile broadband data connectivity services.

uCloudlink’s cooperation with FuXing follows a string of successful partnership agreements in Southeast Asia, including expanded cooperation with Shore-Access Marine Consultancy Co., Ltd. (“Shore Access”) and a new alliance with PT Harapan Karunia Makmur (“HKM”). As an international communication service provider based in the Philippines, Shore Access signed a contract with uCloudlink earlier this year to distribute its products and connectivity services. uCloudlink has also established a partnership with HKM, a large information and communication technology distributor based in Jakarta, to manufacture and distribute uCloudlink’s MBB-related devices and data connectivity services throughout Indonesia.

uCloudlink’s PaaS and SaaS ecosystem integrates and intelligently allocates the resources of various data service suppliers, terminal suppliers and application developers to enhance the user experience of data connection, which creates unique value for its partners and users, and strengthens its competitive advantage in the global arena.

uCloudlink has amassed a wealth of global resources through partners and users as a result of uCloudlink 1.0 business (international mobile data connectivity services) and uCloudlink 2.0 business (local mobile data connectivity services).  Such resources have formed the basis of uCloudlink’s PaaS and SaaS ecosystem. Through its ecosystem, uCloudlink builds upon its resources to provide SaaS application services, data management, equipment sales and rentals and user traffic management to mobile network operators (MNOs), mobile virtual network operators (MVNOs), and business partners.

uCloudlink’s innovative HyperConn™ technology solution paves the way for further development of uCloudlink’s business such as opportunities in new industries, including those with high requirements for connection quality, such as education, video conferencing, emergency response, surveillance and etc.

uCloudlink is continuing to optimize its user experience. Leveraging uCloudlink’s PaaS and SaaS platforms, HyperConn™ is an affordable one-stop data connection service that facilitates “Single Operator Entry Point to Access Global all Available Networks” for better network connectivity.

About UCLOUDLINK GROUP INC.

uCloudlink is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.

Contact:
Carina Cheung
[email protected]
Tel: （852）21806111

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SOURCE UCLOUDLINK GROUP INC.